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Press release from GlobeNewswire (a Nasdaq OMX company)

Memorial Production Partners LP Announces Quarterly Cash Distribution and Second Quarter 2012 Earnings Conference Call and Webcast

Friday, July 20, 2012

Memorial Production Partners LP Announces Quarterly Cash Distribution and Second Quarter 2012 Earnings Conference Call and Webcast03:00 EDT Friday, July 20, 2012HOUSTON, July 20, 2012 (GLOBE NEWSWIRE) -- Memorial Production Partners LP (Nasdaq:MEMP) announced today that the board of directors of its general partner has approved a cash distribution of $0.48 per unit for the second quarter of 2012. This distribution represents an annualized amount of $1.92 per unit and will be paid on August 13, 2012 to unitholders of record as of the close of business on August 1, 2012. MEMP also announced today that it will report second quarter 2012 financial and operating results before the market opens for trading on August 9, 2012. Following the announcement, management will host a second quarter 2012 earnings conference call at 9 a.m. CT. Interested parties are invited to participate on the call by dialing (866) 501-5542 (Conference ID: 93190812) at least 15 minutes prior to the start of the call or via the internet at www.memorialpp.com. A replay of the call will be available on MEMP's website or by phone at (855) 859-2056 (Conference ID: 93190812) for a seven-day period following the call. Memorial Production Partners LP is a Delaware limited partnership that was formed to own and acquire oil and natural gas properties in North America. MEMP's properties are located in South Texas and East Texas/North Louisiana and consist of mature, legacy onshore oil and natural gas reservoirs. MEMP is headquartered in Houston, Texas. For more information, visit www.memorialpp.com. The Memorial Production Partners logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11158 This press release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of Memorial Production Partners LP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission ("SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MEMP expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by MEMP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of MEMP, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to financial performance and results, availability of sufficient cash flow to pay distributions and execute our business plan, prices and demand for natural gas and oil, our ability to replace reserves and efficiently develop our current reserves and other important factors that could cause actual results to differ materially from those projected as described in MEMP's reports filed with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. For a more complete list of these risk factors, please read MEMP's filings with the SEC, which are available on MEMP's Investor Relations website at http://investor.memorialpp.com/sec.cfm or on the SEC's website at www.sec.gov. MEMP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.CONTACT: Memorial Production Partners LP Ronnetta Eaton - Manager, Investor Relations (713) 588-8350 ir@memorialpp.com